Weekly Reports | Jun 25 2021
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For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.
By Greg Peel
Wednesday next week is EOFY, which offers up the potential of a battle between the profit-takers and the window-dressers (pushing the market up to improve yearly return numbers). The fact the financial year has delivered a 20% rally for the ASX200, and the June quarter 7%, suggests it could be on.
Local covid issues aside, we are still pretty well riding Wall Street’s coat tails at present, so we might even test a new high before the year’s out.
We need to get past PCE inflation numbers in the US tonight, before the new year brings US private sector jobs numbers on the Wednesday night (so July 1 response locally) and Friday non-farm payrolls.
The US will also see data for house prices, pending home sales, construction spending, factory orders and trade next week.
China will report June PMIs on Wednesday and then everyone else reports manufacturing PMIs on Thursday.
OPEC meets on Thursday to discuss production quotas, but with no Iran nuclear deal as yet there will likely be no change.
Locally we’ll see private sector credit, housing finance, house prices and a revision of May trade data. The RBA governor speaks on Wednesday.
Tuesday is also the day property developers, REITs and other similar funds all go ex-dividend together.
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